India Internet News
Called the “Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019” (see below), the bill states that “cryptocurrency shall not be used as legal tender or currency at any place in India”. It also makes promotion, advertising, Andy abetment in participation of use of cryptocurrency punishable with a fine, or prison term of upto 7 years.
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West Bengal - Kolkata in particular - has shown one of the biggest jumps nationwide in cyber-crime, says the National Crime Records Data for 2012. Such cases have increased by 355.8 % in Bengal in just five years. The Kolkata figures are even scarier - a 1033.3 % jump between 2011 and 2015.
Welcome to the world of vishing, or voice phishing, a technique used to trick gullible customers to part with confidential personal banking details. Vishing uses voice calls to steal identities and financial information. Such “vishing attacks” are designed to secure financial information in a short span by instilling fear in individuals. These calls are difficult to trace because they primarily ride through the internet.
For many Indians like Kardam, financial inclusion has also been an unpleasant introduction to the dark underbelly of hi-tech banking frauds.
Reliance said the ecommerce platform for electronics products is ready for deployment while it plans to roll out online grocery marketplace in the fourth quarter of the fiscal.
The company will also launch a curated fashion and lifestyle ecommerce venture for which it has signed exclusive partnerships with a host of fashion brands from countries such as Singapore, Australia, Russia, Switzerland, China and Turkey besides ramping up its private labels, the presentation said. However, Reliance officials declined to name those brands to analysts and said the company will unveil those names at an appropriate time.
The startling figures bring the number of mobile subscriptions to 7.2 billion, but the report points out that this equates to 4.9 billion subscribers, since many have multiple subscriptions.
There is still good growth, with the number of subscriptions increasing by five per cent, with India being the strongest market in terms of net additions for the quarter (+12 million), followed by Myanmar (+5 million), Nigeria (+4 million), USA (+4 million) and Bangladesh (+3 million).
Data accessed by TOI from Hong Kong Stock Exchange showed that Snapdeal's loss rose from around Rs 270 crore in March 2014 to nearly Rs 1,350 crore in March 2015 as the company shelled out $25 million (over 150 crore) a month as discounts and marketing expenses.
Snapdeal may not be an isolated case. The situation, industry experts say, is similar across e-commerce segment, and is not confined to India alone. For instance, Amazon emerged as the world's largest e-tailer recently and has been commanding a hefty premium even on stock markets, despite reporting a surprise profit last month after several quarters of losses.
Although billed as a more secure option to cash, branchless banking apps are dangerously insecure, according to the team of five.
After carrying out an automated analysis of all 46 known Android mobile money apps across the 246 known mobile money sites, an exercise that "fails to provide reliable insights", the researchers turned towards a "comprehensive manual teardown of the registration, login, and transaction procedures of a diverse 15 per cent of these apps".
Download Mo(bile) Money, Mo(bile) Problems
Marketplace is not beneficial to either seller or buyer for purchasing Academic and Professional books due to the current economic scenario, where sales are falling and overheads are increasing, which has forced the publishers and distributors to reduce their trade discounts, the current discount range between 25 to 32.50%, which makes it unprofitable for sellers to discount the books on third-party marketplaces.
It is a myth that purchasing on online marketplace is cheaper, the only advantage online marketplaces offer you is the convenience of sitting at home and ordering anything with just a click of the button, but for the price-conscious it is more beneficial to call up the local bookshop and ask for home delivery with discounted prices.
Indian Angel Network (IAN) announced its investment in Kolkata-based â€˜Wow! Momoâ€™, valued at over $16 million. In 2008, two friends, Sagar Daryani and Binod Homagai, from Kolkata conceived the idea of turning â€˜momosâ€™ into a diversified product category with versions appealing to different tastes. They had an operational start up before their exam results were announced. In its early days, the venture was bootstrapped with an initial investment of Rs.30,000.